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CfC Stanbic Bank has recorded an after tax profit of 1.154 billion period ending 31 March 2015. This marked a 28% drop in profits compared to quarter 1 2014 which stood at 1.610 billion.
The seasonally adjusted monthly Purchasing Manager Index, PMI, released by CfC Stanbic Bank on 6th May 2015, showed a sharp climb to a four-month high of 56.2 in April, up from 53.8 in March. The latest reading was consistent with a robust improvement in operating conditions at Kenyan private sector companies. It also signaled an acceleration in growth, following the weakest quarterly average recorded by the survey so far in Q1 2015 (53.9).
Operating conditions in the Kenyan private sector continued to improve in March, extending the current sequence which has run throughout the survey’s brief history. However, March data pointed to an overall slowdown in growth, with the rates of expansion in output, new orders and employment all easing since the previous month.
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